Markets & Infrastructure

Payments & Settlements

India, Nepal Ink Pact to Integrate Fast Payments Systems

By Ajoy K Das | 16/02/2024

The RBI has agreed to interlink the UPI with its counterpart in Nepal to enable instant and lower cost cross-border remittances.

Structural Regulation

Australia FSC Calls for Threshold Change in ‘Sophisticated Investor’ Test

By Editors | 16/02/2024

The Financial Services Council warns that if the threshold is left unchanged, more than 20% of households would lose important retail investor protections by 2033.

Structural Regulation

ASIC Proposes Further Changes to OTC Derivatives Reporting Rules

By Manesh Samtani | 16/02/2024

Among other things, the changes will simplify the exchange-traded derivatives exclusion and the scope of foreign entity reporting, as well as remove “alternative reporting”.

AI Risk & Governance

US SEC Chair Warns Companies Against ‘AI Washing’

By Nithya Subramanian | 15/02/2024

Gary Gensler has asked companies looking to raise money from the public to be truthful and transparent about their use of AI and the associated risks.

Clearing & Post-Trade

CPMI, IOSCO Propose “Effective” VM Practices for Cleared Markets

By Editors | 15/02/2024

The consultative report describes eight examples of effective practices for CCPs and their clearing members regarding variation margin processes and transparency.

Structural Regulation

Asset Managers Moving India Funds to GIFT City – Report

By Ajoy K Das | 14/02/2024

Eight of the ten largest Indian asset managers have either relocated or are planning to relocate to GIFT City.

Structural Regulation

S Korea: DGB Daegu Bank Applies to Convert Banking Licence

By Editors | 14/02/2024

If approved, Daegu Bank will be the first to take advantage of a recent regulatory amendment that expedites the process of converting a regional bank to a commercial bank.

Conduct, Culture & Accountability

Major Japan Insurers Directed to Divest ‘Strategic Shareholdings’

By Editors | 14/02/2024

The FSA suspects that the competitive environment may have been distorted by the practice of insurers’ holding shares in client companies.

CBDCs

Philippines Plans to Launch Wholesale CBDC Within Two years

By Nithya Subramanian | 13/02/2024

BSP Governor Eli Remolona said the CBDC will operate on the central bank’s payment and settlement system and not use blockchain or DLT.